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All Forum Posts by: Soren Weeg

Soren Weeg has started 1 posts and replied 4 times.

Post: Starting Out / Wholesaling

Soren WeegPosted
  • New to Real Estate
  • Sioux Falls, SD
  • Posts 4
  • Votes 0
Quote from @Gunnar Barbee:

Hey Soren, 

No, you don't need to be licensed to wholesale here in SD. You will likely run into some agents that will claim it is illegal but they're just likely uneducated about the space and have a bad stigma about wholesalers.  

Good luck on your journey, don't get analysis paralysis and get stuck doing research vs taking action. The best way to learn, and to get that first deal is to go for it. Get your feet wet, make mistakes, and learn as you go. 

Reach out to me on Instagram if you start getting deals here in Sioux Falls. Would be happy to help analyze them or help you get them sold. 


 Thank you for the clarification and the advice. I'll definitely reach out once I get a deal because I know its gonna be hard to get everything right just starting off. Hopefully be in touch soon, I appreciate it!

Post: Starting Out / Wholesaling

Soren WeegPosted
  • New to Real Estate
  • Sioux Falls, SD
  • Posts 4
  • Votes 0
Quote from @Jonathan Greene:

You have a good attitude to start and the fact you are thinking about the legality of the business of wholesaling means you are ahead of 75% of all who do the business. What you want to do is two-fold:

1. Go to real estate meetups in your area, there are some for sure. Meet other investors. You might find people you can help with some skills, time, or hustle that don't force you to try wholesaling.

2. If you want to wholesale and learn about rehab costs and acquisition, find the best wholesaler in your area, who is reputable (hard to find), and see what you can do for them.

Don't try to do it on your own.


 Will do, thank you for the advice!

Post: Starting Out / Wholesaling

Soren WeegPosted
  • New to Real Estate
  • Sioux Falls, SD
  • Posts 4
  • Votes 0
Quote from @David Ramirez:

I'm not aware of the wholesaling regulation in South Dakota. 

I'm based out of Tampa FL. Feel free to reach out with any questions about flipping or wholesaling. 


 For sure will, Appreciate the response!

Post: Starting Out / Wholesaling

Soren WeegPosted
  • New to Real Estate
  • Sioux Falls, SD
  • Posts 4
  • Votes 0

Hey Everyone! I am a 20 year old college student from Sioux Falls, South Dakota. I have been doing lots of research on real estate investing this year, reading many books, watching videos, listening to podcasts, and scouring bigger pockets for information. I plan on house hacking when I have the chance and then  growing my real estate portfolio as much as possible as time goes on. Right now I am looking at starting out by getting into wholesaling because knowing the ins and outs of finding deals will set me up for a successful real estate investing career and I feel like it's a good actionable step I can take while I’m still in college. I already feel like I have a good base of knowledge but I'm still a little confused on the legal side of the business and there is definitely more that I need to learn. I know that every state can have their own laws and regulations. Also do you need a real estate license to wholesale in South Dakota? I’ve looked it up online and found mixed results. I would love to connect and help out anyone local as I’m trying to learn as much as I can!